Kanpur police have arrested Ravindra Nath Soni, the fugitive Indian-origin owner of Dubai-based BlueChip Group, ending an 18-month international hunt. The 44-year-old was apprehended on November 30, 2025, in Dehradun, Uttarakhand, where he had been hiding. A reward of Rs10,000 had been announced for information leading to his capture.
At a press briefing, ADCP Law & Order Anjali Vishwakarma (IPS) described Soni’s arrest as a “significant breakthrough.” She explained that a special team tracked Soni through technical and human surveillance before raiding his hideout and bringing him to Kanpur.
Soni is accused of defrauding numerous investors by promising high monthly returns through BlueChip, which operated from the Al Jawhara Building in Bur Dubai. The company guaranteed 3% monthly returns (36% annually) on a minimum investment of $10,000 locked in for 18 months. The scheme collapsed in March 2024, leaving hundreds of UAE residents, many Indian expats, facing losses estimated at over $100 million (Dh367 million).
Among the Indian victims is Abdul Karim, whose family invested Dh185,000 after being lured by BlueChip promises. Payments stopped abruptly, the office was abandoned, and Soni vanished along with senior staff.
Investigations revealed that BlueChip was the latest in a series of fraudulent ventures run by Soni, including Acme Management Consultancy and Acme Global General Trading, which disappeared after pocketing millions in investor funds between 2018 and 2020.
Court records show Soni faced multiple prior fraud cases: in Dubai for failing to repay Dh10.05 million, in Aligarh in 2022 for a “double-your-money” scheme, and in Panipat, Haryana, for fraud and criminal intimidation. Additionally, in May 2024, BlueChip transferred $41.35 million to an unknown cryptocurrency wallet just before shutting down.
Police confirmed that all linked bank accounts and assets are under investigation, as authorities follow the money trail to recover investor funds.
